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20121129
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is to extend the mid cal class tax cut. it's almost half of the impact on our g.d.p. the upper income is onen tenth of one% in terms of economic impact. 1/10 of 1%. it's a question of listening to the american people. >> i would like to close by saying a lot has been said about what will happen if we go over the cliff. let's think about what will happen if we don't and the confidence that the market cease and the confidence that consumers will have further creating jobs. the confidence that they have that we can get a job done here, that's really important. but it's about job creation and growth that is so important. a job is the best answer to most every challenge that a family has. it is also a great way to relieve the federal budget of some of the social services that are necessary. and more important than that, it's the dignity of work and rewarding it and the fairness that the tax code that this is taking us to the clinton tax rates. others can speak to what it was under reagan and the rest of that. but the clinton tax rates which enabled the private sector to create more than 28 million
of. but if we go over the if is cal cliff, which is really more of a slope than a cliff. it is not like y2k where january 1, everybody has a dramatic cuts in services and dramatic increases in taxes. that will smooth in over time. that will happen over some time. there's things the president can do to delay the impact of that on the average family. but it is going to be a big shock to the markets and to lots of folks' savings and pensions if we get right up to the end of the year and we haven't had some healthy, clear negotiation about what's the path forward. some framework some downpayment and some bridge. so one bad thing we kick the can down the road. the other we go over the fiscal cliff but without any clear path forward or plan. in my view, a really bad plan is worse than no plan. at the end of the last congress, where i was here as a member of the lame duck, we were prevailed upon, persuaded to vote for a two-year extension of the bush tax cuts. the price of that was -- had we not done that, unemployment ins
Search Results 0 to 1 of about 2